A SIMPLE QUESTION

[Scythe13]

Didn't only 12% of the bullion get handed in or something really low like that?

Here in the UK, silver needs to go up by a fair amount, to make it worth selling. I brought a load at £12 an ounce, sold it over £30 an ounce, and am happy to repurchase again now. But for what I believe is going to happen shortly….I'll be holding what I have, and increasing it, over the next 3 years.

I think most people holding metals do so as a hedge against a weakening currency. Think about silver or gold 45 years ago. If you looked at the purchasing power of the dollar, against the purchasing power of an ounce of gold/silver, the difference is significant. Anyone who had their money (£1000, for example) in silver or gold from 1980, was sitting prettier than anyone whom had the same quantity of cash in that year in savings (£1000 for the same example). Back in 1980, £1000 was a fair chunk of money, and in value of gold was also £1000. The purchasing power of £1000 whether gold or cash was, for this example, 10% of a house purchase price. Two up, two down. However, the house has not changed, neither has the gold. Neither has the percentage of the house that the gold can purchase, e.g. 10%. However, the £1000, can now only buy 0.5% of the same house, e.g. 2 up, 2 down.

That's the real reason most preppers are holding metals. There are only a few that are using it as investment. These are the ones that are able to pay extra close attention and can check the prices and movements of it's prices more regularly.

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Thanks for the info mate. Where did you read that? Interesting point you made below though.

besides lets say you did have 85k in your account....just ring your bank and ask if you can have it ALL out in cash ....say in one week...let me know how you get on?.....try walking in tomorrow and as for 5/10 k in cash right now.....the first thing they ask is WHY and WHAT your want it for....they never fucking ask when you are putting it in though......do not take my word....go try...tell us what you find !

The most interesting part, any transactions above £5000 are reported and tracked by the gov. I think it's the same in the US, but with $5000. This is to stop fraud and money laundering (not technically illegal! Only illegal if you've not paid tax on the money. Moving money without anyone knowing is 100% legal…which is the true/original definition of laundering). You're right though. I remember trying to take out £8000 for a massive party at uni, and the bank was not at all happy with it. So I just took out £1000 a day over the next 2 weeks until I had the money for the party. If I had pressed to take out the £8000, they said I would have had to wait a day or 2 so that they could get the money together! SCAREY!!!!!